LAUGFS launches “forward together” sustainability integration management initiative
View(s):LAUGFS Holdings, with the long term goal of integrating environmental aspects of sustainability to business, has initiated a project named ‘Forward Together’ to improve the processes and activities of each and every business unit and achieve the overall sustainability goals of the group.
In a media statement, it said that LAUGFS being a group of companies which carry out operations related to providing quality goods and services that have a significant impact on the environment, community and economy, has foreseen social, economic and environmental opportunities and risks and directed its business decisions to ensure sustainable value creation.
“A companywide system for sustainability thinking improvement has been developed with modifications made to purchasing and marketing related policies and processes, covering areas such as sustainable sourcing, stakeholder awareness creation and complying to necessary regulations and policies,” it said.
LAUGFS calculates the amount of Carbon footprint or at a broader level, any negative impact on the environment which takes place as a result of the company’s operations in its actual bottom line. Generally termed as externalities, these impacts that are made on stakeholders external to them have to be minimised, if not neutralised for a company to be regarded responsible and arrive at actual bottom line calculations.
Under this initiative, the group challenges its business units to ask themselves the question, “how have your business contributed to our environmental foot print?” while the groups flagship company LAUGFS Gas PLC prides itself with its significant contributions under the area of Environment Protection, the company motivates its people encouraging to think “How many trees would be otherwise chopped for fire wood if not the domestic fuel you are contributing to supply to masses?” As a company which engages particularly in emission related businesses, LAUGFS has strengthened and revamped its approach to environmental sustainability. This process involves identifying aspects which are critical in the context of the current business and vision, identifying aspects which are critical in the context of stakeholders, identifying issues and concerns of stakeholders on the impact the company’s operations make on them and the environment at large and initiating and implementing ‘responses’ to these issues and concerns of all stakeholders related to the impacts the company make.
The implementation of this 4- step operation takes place through a committee elected by the Group’s Board of Directors with the intention of methodically planning and implementing sustainability integration.